Interim Report Q1-2/06 January 1 to June 30, 2006

Save this PDF as:
 WORD  PNG  TXT  JPG

Size: px
Start display at page:

Download "Interim Report Q1-2/06 January 1 to June 30, 2006"

Transcription

1 Interim Report Q1-2/06 January 1 to June 30, 2006

2 INTERIM REPORT JANUARY JUNE 2006 / AXEL SPRINGER AG 1 Key Figures Group Key Figures Group Q1-2/2006 Q1-2/2005 Change in millions IFRS IFRS year-on-year Revenues 1, , % thereof circulation and advertising revenues 1, , % EBITA 1) % EBITA margin 15.2 % 14.5 % Consolidated net income % EBIT 1) % EBITDA 1) % Total assets 2) 2, , % Equity 2) 1, , % Equity ratio 51.1 % 45.4 % Capital expenditures % Cash flow from operating activities % Earnings per share (in ) % Closing price (in ) % Employees (average number) 9,692 10, % 1) Adjusted for non-recurring effects 2) As of June 30, 2006 and December 31, 2005.

3 2 INTERIM REPORT JANUARY JUNE 2006 / AXEL SPRINGER AG Interim Report Axel Springer Group Amid an operating environment that benefited from the positive impetus of the advertising market, but was also beset by structural challenges, Axel Springer generated higher revenues in its core business in the first half of Thanks to the higher level of advertising revenues and the continued practice of strict cost discipline, and despite the heightened start-up losses, Axel Springer also managed to generate higher earnings as well. The earnings before interest, taxes and amortization (EBITA) amounted to million, as compared with million for the yearago period, and the consolidated net income amounted to million, as compared with million for the year-ago period. The earnings per share reached 3.54, as compared with 3.26 for the year-ago period. The revenues in the core business, consisting of advertising and circulation revenues, amounted to 1,089.0 million, after 1,061.0 million in the prior-year period. Total revenues amounted to 1,172.7 million, less than the corresponding prior-year figure of 1,193.5 million, in which the rotogravure revenues were still included prior to the spinoff of rotogravure activities to the joint venture Prinovis effective July 1, For the full year 2006, the Management Board anticipates a moderate increase in revenues from the core business. Because the discontinuation of rotogravure revenues resulting from the spin-off of those activities to the joint venture Prinovis will be reflected in the company s full-year results for the first time in 2006, the total consolidated revenues are expected to be slightly lower than the prioryear figure. For 2006, the Management Board intends to step up capital expenditures in the core business of German-language publications, as well as internationalization and digitization. Thanks to the continued practice of strict cost management and the positive performance of existing titles, and despite the heightened start-up costs, the Management Board anticipates that the company will generate an EBITA on the same level as or even slightly higher than the record EBITA for General Economic Environment Germany: Economic Growth Outpaces Consumption The German economy is on a course of growth. The economic research institution Das Deutsche Institut für Wirtschaftsforschung estimates that Germany witnessed real economic growth of 1.4 % in the first half of Domestic demand has strengthened. Business investment increased 2.5 % in the first half of 2006, in real terms, after having contracted in Consumer spending, the most relevant indicator for the business of Axel Springer AG, increased at a real rate of only 0.5 % and therefore made only a small contribution to the general economic upswing. According to the German Federal Statistical Office, the inflation rate for the first half of 2006 was 2.0 %. Business Development Core Business Strengthened, Internationalization Continued Amid an operating environment that benefited from the positive impetus of the advertising market, but was also beset by structural challenges, Axel Springer successfully expanded its core business, posting moderately higher revenues both in the Newspapers segment and the Magazines segment. While the Magazines segment reported a renewed earnings increase, the Newspapers segment reported slightly lower earnings, compared with the prior-year figure, due in particular to the introduction of the Polish daily DZIENNIK. The

4 INTERIM REPORT JANUARY JUNE 2006 / AXEL SPRINGER AG 3 overall positive performance was led by the successful development of established titles and the new publications that have been launched in Germany and abroad in recent years. In May, Axel Springer initiated a detailed survey and review of its administrative and service units in order to assess the competitiveness not only of its market units. Further Step in the direction of Digitization In addition to the systematic expansion of existing online activities, Axel Springer AG signed, after the close of the second quarter, an agreement by which it will purchase a majority interest in Idealo Internet GmbH, the operator of the price and product search engine Idealo.de, which is based in Berlin. Formed in 2000, Idealo Internet GmbH is one of the leading price search engines in Germany. The purchase agreement has been submitted to the Cartel Office for review. Legal Clarity for Future Acquisitions Axel Springer AG had intended in mid-2005 to acquire a majority interest in ProSiebenSat.1 Media AG and to establish television as the company s second core business. On February 1, 2006, however, after the German Cartel Office rejected the deal and the Media Concentration Commission issued a negative decision as well, the parties decided not to pursue the acquisition any further. In order to establish legal clarity for future acquisitions, Axel Springer AG filed an appeal against the rejection order of the German Cartel Office on February 23, Newspapers BILD achieved an average paid circulation of 3.6 million units. Its reporting was even more up-to-date than usual thanks to the optimization of its logistical capabilities in advance of the FIFA World Cup. BILD am SONNTAG achieved impressive advertising gains over the prior-year period. The advertising revenues of SPORT BILD, in particular, benefited from the World Cup event. Newspapers Germany Net paid circulation, average per issue in Q , (IVW) BILD 3,572,434 BILD am SONNTAG 1,851,983 SPORT BILD 463,095 DIE WELT/ WELT KOMPAKT 257,253 WELT am SONNTAG 405,398 HAMBURGER ABENDBLATT 261,721 BERLINER MORGENPOST 148,912 B.Z./B.Z. am SONNTAG 206,788 The advertising revenues of the WELT Group for the first half of 2006 were substantially higher than the corresponding figure for the prior-year period. Counted together, DIE WELT and WELT KOM- PAKT achieved an average circulation of more than 257,000 units. As a logical consequence of the decision to merge the editorial management of the WELT Group and BERLINER MORGENPOST, these newspapers are currently working on a newsroom concept that will strengthen their journalistic competence in both print and online media. Axel Springer is the first major newspaper publisher to merge the editorial staffs for print and online media and consequently it has the biggest integrated editorial team for print and online media in Germany. For the first time, the participating editors will adhere to the principle of online first. These innovations originating in the Berlin-area newspapers were accompanied by substantially higher advertising revenues, especially for job ads and advertising supplements. In early May, BERLINER MORGENPOST came out with a new layout and additional services, to make it even more reader-friendly. Coinciding with the FIFA World Cup, B.Z. published a daily sports newspaper. This format will undergo further testing at the start of the German National Soccer League season. HAMBURGER ABENDBLATT increased its advertising revenues over the prior-year figure, especially in the area of help-wanted ads. The online campaign continued with the creation of a networkneutral WAP portal in June 2006.

5 4 INTERIM REPORT JANUARY JUNE 2006 / AXEL SPRINGER AG Magazines Germany Net paid circulation, average per issue in Q , (IVW) TV DIGITAL 1,887,197 HÖRZU 1,589,697 FUNK UHR 776,894 BILDWOCHE 264,212 TV NEU 216,246 BILD der FRAU 1,109,015 FRAU von HEUTE 423,471 JOLIE 343,850 COMPUTER BILD 728,191 COMPUTER BILD SPIELE 462,209 AUDIO VIDEO FOTO BILD 377,971 AUTO BILD 627,550 AUTOMOBIL TESTS 113,159 AUTO BILD ALLES ALLRAD 72,863 AUTO BILD MOTORSPORT 65,888 AUTO BILD SPORTSCARS 54,406 EURO 171,954 EURO am SONNTAG 111,716 MAXIM 141,049 POPCORN 332,522 YAM! 227,641 MÄDCHEN 173,403 STARFLASH 146,232 MUSIKEXPRESS 59,389 ROLLING STONE 57,352 METAL HAMMER 48,999 Magazines The biweekly TV programming guide TV DIGITAL continued to increase its circulation, selling about 1.9 million units in the first half of As the highest-circulation magazine launched in Germany since 2000, TV DIGITAL has continued to build on its position as the leading medium for the digital TV future. HÖRZU strengthened its position as Germany s biggest weekly programming guide, achieving a paid circulation of approximately 1.6 million units in the first half of With more than 6 million readers, BILD der FRAU has solidified its market position as the most-read women s magazine in Germany (Media Analysis 2006 I). JOLIE, the monthly magazine for young women, successfully extended its position as the second-biggest title in its segment. The titles COMPUTER BILD, COMPUTER BILD SPIELE and AUDIO VIDEO FOTO BILD continued to dominate their respective market segments in the first half of COMPUTER BILD expanded its telecommunications and mobile phone sections considerably, so that in addition to being Europe s biggest computer magazine, it is now also Europe s biggest mobile phone magazine. AUTO BILD, the biggest car magazine in Europe, celebrated its 20th anniversary in February 2006 with a widely expanded special issue, numerous promotional actions for readers and dealers and a major advertising campaign in print and TV. Over the last 20 years, AUTO BILD has established itself as the most successful international auto magazine brand and expanded its family with new titles like AUTO BILD ALLES ALLRAD. The paid circulation of youth titles continues to grow at doubledigit rates. YAM!, POPCORN and STARFLASH increased their circulation figures over the first half of 2005 at rates of 18 %, 30 % and 55 %, respectively. International With an average paid circulation of 541,000 units, FAKT is still the most-sold Polish daily. In the advertising market, FAKT ranks second, with a market share of 20 %, based on gross advertising revenues, indicative of a 3 % increase over the corresponding prior-year figure. The super-regional Polish daily DZIENNIK, which first appeared on April 18, 2006, has exceeded the expectations of Axel Springer Polska. On average, DZIENNIK sold more than 259,000 units per issue in May 2006, vaulting it to third place in the segment of Polish daily newspapers. The advertising revenues of DZIENNIK also performed very well, exceeding the company s expectations. Considering this successful start, the publisher is optimistic of being able to maintain the circulation target of 150,000 paid units also after the introductory campaign. Less than three years after entering the Polish market, Axel Springer s publications FAKT and DZIENNIK have captured a 44 % share of the circulation market of Polish daily newspapers, making it the biggest publisher of daily newspapers in Poland.

6 INTERIM REPORT JANUARY JUNE 2006 / AXEL SPRINGER AG 5 Axel Springer successfully continued the international expansion of the AUTO BILD brand. The weekly version of Europe s biggest car magazine AUTOBILD that was introduced in Spain in November of last year has already established itself as that country s biggest weekly car magazine. In January, the 28th edition of AUTO BILD was launched in Serbia-Montenegro; No. 29 followed in Denmark in March. Axel Springer also pushed forward with the internationalization of its COMPUTER BILD family of titles. The second international licensed edition of AUDIO VIDEO FOTO BILD was introduced in Italy in February And the subsidiary Axel Springer Russia introduced the Russian edition of COMPUTER BILD in March The introduction of COMPUTER BILD in Russia represents the logical continuation of the international expansion strategy of Axel Springer AG in Eastern Europe. It is also the first time that the BILD brand has been positioned in the Russian print market. Electronic Media Even though the plan to acquire a majority interest in ProSiebensat.1 Media AG was abandoned, Axel Springer still indirectly holds a 12 % interest in this company. It also holds a 27 % equity interest in Hamburg 1. The TV production company SCHWARTZKOPFF TV further expanded its production output, as it began production of 50 new installments of Best of Talk for Sat.1 and seven installments of the new quiz/comedy show 5 gegen 100 for RTL. BILD.T-ONLINE.DE was very successful in the first half of This portal registered 19 % more visits than it did in the corresponding prior-year period. Activities such as the marketing of online standard forms of advertising and cross-media packages in relation to the promotional campaign We Are Football were very successful. AUTOBILD.DE, Germany s leading automobile portal with editorial content, extended its business model for the car sales exchange in April 2006, so that dealers can now take advantage of the company s high-circulation print presence. This portal registered 35 % more visits in the first half of 2006 than in the corresponding prior-year period. As part of its growth campaign, IMMONET.DE significantly stepped up it activities in the four areas of online marketing, cross-media with BILD, product development and sales/telesales. As a result, IMMONET.DE increased its key performance indicators by a significant margin, extended its position as the No. 2 provider in the market of online real estate portals and narrowed the gap with the market leader. IMMONET.DE increased its Nielsen net ratings by around 12 % in the first half of 2006, bringing its market share to about 20 %. Moreover, its property listings rose from 400,000 in December 2005 to 480,000 in June of this year. With eleven cross-media ad markets in selected BILD regional editions, IMMONET.DE has cemented its position as the leading cross-media portal for real estate marketing. At STEP- STONE, the number of help-wanted ads was more than 41 % higher than the corresponding prior-year period. As part of its digitization strategy, Axel Springer AG signed, in July of this year, an agreement by which it will purchase a majority interest in Idealo Internet GmbH, the operator of the price and product search engine Idealo.de, based in Berlin. Formed in 2000, Idealo Internet GmbH is one of the leading price search engines in Germany. Printing and Logistics The newspaper printing plants continued the moderate growth trend that began last year. The revenue increase over the prior-year period resulted mainly from job printing activities. The modernization of the offset printing plant in Ahrensburg has been largely completed. For the purpose of establishing nationwide mail delivery and logistical services, Axel Springer AG, Verlagsgruppe Georg von Holtzbrinck, WAZ Mediengruppe and Rosalia AG together formed the joint venture PIN Group AG in October This company will take over all the mail delivery activities of its shareholders and enter into nationwide competition with Deutsche Post AG in the German mail delivery market. The shareholders of the PIN Group AG made their capital contributions in the form of in-kind contributions in March Operating Results - Group Market Environment: Print Media Distribution Declines, Advertising Growth Continues Demand in the print media distribution market contracted further in the first half of The total paid circulation of newspapers and magazines was 2.1 % lower than in the first half of At the same time, circulation revenues experienced a moderate decline of 0.4 %. Against the backdrop of the much-improved consumer spending climate, the upward trend in the German advertising industry continued. The gross advertising revenues of print media (excluding classifieds and advertising supplements, but including media advertising) in the first half of 2006 were 7.5 % higher than the corresponding prior-year figure. The pressure on advertising rates did not relent, with the result that net advertising revenues continued to lag behind gross advertising revenues. Including classified ads, the advertising revenues of the regional subscription newspapers in the first five months of 2006 were only 0.1 % less than the prior-year figure.

7 6 INTERIM REPORT JANUARY JUNE 2006 / AXEL SPRINGER AG Total Expenses Lower than Year-Ago Figure The expenses contained in EBITA amounted to 1,043.8 million, as compared with 1,084.8 million in the year-ago period, indicative of a 41.0 million (- 3.8 %) decrease. Axel Springer: Circulation Revenues Steady, Advertising Revenues Higher Amid this operating environment, which benefited from the positive impetus in the advertising market, but was still beset by structural challenges, Axel Springer generated higher revenues in its core business. The combined total of circulation and advertising revenues was 28.0 million (2.6 %) higher than the corresponding prior-year figure. Total revenues amounted to 1,172.7 million, less than the prior-year figure of 1,193.5 million. At million, circulation revenues held steady, currently accounting for 49.2 % of the total revenues of the Axel Springer Group. Decreases in the circulation revenues of certain computer, TV programming and women s magazines were basically offset by the positive performance of the newly launched Polish daily DZIENNIK, as well as TV DIGITAL, COMPUTER BILD and DIE WELT/WELT KOMPAKT. At million, the advertising revenues for the first half of 2006 were 28.3 million (5.9 %) higher than the corresponding prior-year figure and now account for 43.6 % of the total revenues of the Axel Springer Group. The revenue growth was led in particular by the BILD Group, HAMBURGER ABENDBLATT and TV DIGITAL and by the titles in Poland. The category of other revenues amounted to 83.7 million, 48.8 million (36.8 %) less than the prior-year figure, due mainly to the discontinuation of the rotogravure printing revenues and the sale of AS Interactive. Foreign Revenues Foreign revenues amounted to million, 11.6 million less than the corresponding prior-year figure. Adjusted for the spin-off of the rotogravure printing activities and the change of revenue recognition methods in Hungary, however, the foreign revenues were 5.1 million (2.8 %) higher than the year-ago figure. Foreign revenues represent 15.8 % of Axel Springer s total revenues (first half 2005: 16.5 %, adjusted: 15.7 %). Purchased goods and services amounted to million, 22.5 million (6.2 %) higher than the prior-year figure because the costs of rotogravure printing, which had formerly been distributed across all cost categories, are now shown completely under Purchased goods and services. The personnel expenses amounted to million, 44.7 million (12.7 %) less than the year-ago figure. The other operating expenses were million, 9.4 million (2.9 %) less than the year-ago figure. Depreciation, amortization and impairments (not including impairment losses in goodwill) came to 30.5 million, 9.2 million (23.3 %) less than the prior-year figure. Higher EBITA and Consolidated Net Income Axel Springer generated an EBITA of million in the first half of 2006, indicative of a 4.8 million (2.8 %) increase over the first half of The heightened start-up losses were more than offset by higher revenues in the advertising business, the continued practice of strict cost discipline and the step-by-step progress towards making the new titles profitable. The EBITA margin was 15.2 % (PY: 14.5 %). The consolidated net income was million, 10.1 million (10.0 %) higher than the year-ago figure. Aside from the improved operating results, the increase in the consolidated net income was also substantially helped by the higher net financial income, which resulted, in turn, from a non-recurring gain of 22.4 million before taxes from an interest rate hedging deal entered into in connection with the planned acquisition of ProSiebenSat.1 Media AG. The earnings per share were 3.54, as compared with 3.26 for the prior-year period.

8 INTERIM REPORT JANUARY JUNE 2006 / AXEL SPRINGER AG 7 Operating Results - Segments Newspapers Market Environment: Further Decrease in Circulation, Increases in Advertising Business The 377 daily and Sunday newspapers tracked by the market research institution IVW generated total sales of 24.9 million units per issue, representing a 2.0 % decrease from the prior-year period. Single-unit sales again suffered a greater loss than subscription sales. Business expenditures on newspaper ads (excluding classified and advertising supplements, but including media advertising) amounted to 2.58 billion (+ 6.8 %) in the first six months of The gross advertising expenditures of the telecommunications industry, tech stores and the media themselves showed a particularly sharp increase, due to heightened ad placements in newspapers. The advertising expenditures of discount stores, which have been a major factor contributing to growth in the newspaper market, continued on a high level. The revenue increase was driven by the increased volume of ad placements and by the continuing increase in the volume of color ads. Including classifieds, the total volume of ads placed in regional subscription newspapers in the first five months of 2006 was nearly unchanged from the prior-year period, although developments within the category of classified ads were mixed. While the volume of published real estate, automobile, travel and event ads was significantly lower, the volume of help-wanted ads was considerably higher. Key Figures Newspapers Q2/2006 in millions Q2/2006 Q2/2005 Change External Revenues % in % of consolidated revenues 61.2 % 59.8 % Circulation revenues % Advertising revenues % Other revenues % EBITA % EBITA margin 19.8 % 21.9 % Key Figures Newspapers Q 1-2/2006 in millions Axel Springer: Slightly Lower Circulation Revenues, Higher Advertising Revenues of Newspapers In this environment, Axel Springer generated total newspaper revenues of million, representing a 7.4 million (1.0 %) increase over the year-ago figure. Newspapers are the biggest source of revenue for the Axel Springer Group, accounting for 61.3 % of total revenues. The circulation revenues for the first six months of 2006 amounted to million, slightly lower than the prior-year figure of million. Benefiting from the improved conditions in the advertising market, the newspaper advertising revenues rose 5.6 %, by 19.6 million to million in the reporting period. The biggest contributors to this positive performance were the BILD Group, the WELT Group and the Hamburg newspaper group. The category of other revenues amounted to 18.6 million, less than the year-ago figure of 26.3 million. This decrease was caused in part by the contribution of the company Punkt Direktvertriebs GmbH to the PIN Group AG, Leudelingen/ Luxembourg. The EBITA came to million, slightly less than the prior-year figure of million, as a result of the start-up costs for DZIENNIK. The EBITA margin was 21.8 % (first half 2005: 22.3 %). Magazines Q1-2/ 2006 Q1-2/ 2005 Change External Revenues % in % of consolidated revenues 61.3 % 59.6 % Circulation revenues % Advertising revenues % Other revenues % EBITA % EBITA margin 21.8 % 22.3 % Market Environment: Lower Paid Circulation, Substantial Growth of Advertising Revenues In the first half of 2006, the average paid circulation of generalinterest magazines, including membership and club magazines, came to million units per issue, 1.6 % less than the year-ago figure. Circulation losses were sustained most of all in the area of single-unit sales. The proliferation of new general-interest magazines continued. The number of titles tracked by IVW alone increased by 22 to reach 869 (+ 2.6 %). The gross advertising revenues generated in the general-interest magazines market in the first half

9 8 INTERIM REPORT JANUARY JUNE 2006 / AXEL SPRINGER AG of 2006 amounted to 2.01 billion, indicating an impressive 8.3 % increase over the prior-year figure. increased earnings contribution of successful new titles such as TV DIGITAL. The EBITA margin was 10.5 % (PY: 9.1 %). Printing Key Figures Magazines Q2/2006 in millions Q2/2006 Q2/2005 Change External Revenues % in % of consolidated revenues 33.8 % 31.8 % Circulation revenues % Advertising revenues % Other revenues % EBITA % EBITA margin 11.9 % 10.5 % The newspaper printing plants again generated higher revenues, due to job printing activities. As a result of the rotogravure activities having been transferred to the joint venture Prinovis, the external revenues of the printing plants, at 23.5 million, were 34.3 million lower than the prior-year figure. The internal revenues amounted to million (PY 2005: million) and the total segment revenues were million (PY 2005: million). The company s own printing plants are managed as cost centers. The EBITA for this segment was million (PY 2005: 0.0 million). Since July 2005, this figure additionally contains the investment income/expenses from the joint venture PRINOVIS Ltd. & Co. KG. Services/Holding Key Figures Magazines Q 1-2/2006 in millions Q1-2/ 2006 Q1-2/ 2005 Change External Revenues % in % of consolidated revenues 33.7 % 32.2 % The external revenues amounted to 34.7 million, indicative of a 5.7 million (14.1 %) decrease from the year-ago figure, due mainly to the sale of the value-added telephone services provider AS Interactive. The segment EBITA improved to million (PY 2005: million). Circulation revenues % Advertising revenues % Other revenues % EBITA % EBITA margin 10.5 % 9.1 % Axel Springer: Circulation Revenues Nearly Unchanged, Magazine Advertising Revenues Higher Axel Springer s magazine revenues for the first six months of 2006 amounted to million, 11.8 million (3.1 %) higher than the prior-year figure. Thus, the Magazines segment contributed 33.7 % of the Group s total revenues. The circulation revenues came to million, indicative of a 4.1 million (1.7 %) increase over the year-ago figure, mostly as a result of the positive performance of TV DIGITAL. At million, the advertising revenues were 8.8 million (6.7 %) higher than the year-ago figure. Moreover, the advertising revenues were higher in nearly all magazine segments. The EBITA amounted to 41.6 million, 6.8 million (19.6 %) higher than the year-ago figure. This increase resulted from the stronger earnings performance of key established titles and the

10 INTERIM REPORT JANUARY JUNE 2006 / AXEL SPRINGER AG 9 Liquidity and Cash Flows Risks Cash Flow and Capital Expenditures Despite the million improvement in the consolidated net income over the prior-year period (PY: million), the cash flow from operating activities, at million, was lower than the prior-year figure of million. This decrease can be attributed to changes in the payment due dates for social security, an increase in trade receivables in connection with the FIFA World Cup, and a higher proportion, compared with the prior-year period, of non-cash income in the consolidated net income figure. The cash flow from investing activities amounted to million (PY: million). The capital expenditures of 17.8 million (PY: 32.2 million) were devoted to intangible assets, in the amount of 4.9 million, property, plant and equipment in the amount of 11.8 million and non-current financial assets in the amount of 1.1million. The cash flow from financing activities amounted to million (PY: million) because the company repaid loans totaling million and paid a higher dividend to the shareholders in the first half of The company s risk assessment has not changed since the annual report at December 31, Employees In the first six months of 2006, Axel Springer had an average of 9,692 employees (excluding apprentice-trainees and journalism students/interns). Share Positive Share Price Development After an increase of 25.6 % in 2005, the Axel Springer share price has stabilized in the first half of On June 30, 2006, the share closed at , 6.4 % higher than the year-ago share price ( 96.81). The net cash flow from operating, investing and financing activities reduced the company s holdings of cash and cash equivalents by 86.6 million. Net Liquidity Axel Springer increased its net liquidity from million at year-end 2005 to million at June 30, The total holdings of cash and cash equivalents (including marketable securities) amounted to million at June 30, 2006 (December 31, 2005: million), while the financial liabilities decreased from million to million at the same dates, due to loan repayments. Shareholder Structure On July 14, 2006, Dr. Mathias Döpfner, Chairman and CEO of Axel Springer AG, indirectly purchased 680,000 shares of Axel Springer AG from the shareholdings of Dr. h.c. Friede Springer at the price of

11 10 INTERIM REPORT JANUARY JUNE 2006 / AXEL SPRINGER AG 77 euros per share. These shares represent an equity interest of 2 %. Consequently, the personally held share package of Friede Springer was reduced to 5 %. The majority interest of 50 % plus 10 shares in the company Axel Springer Gesellschaft für Publizistik, which is controlled by Friede Springer, is not affected by this transaction. On May 19, 2005, Dr. Oliver Krauß brought an action for annulment of the following resolutions adopted at the annual shareholders meeting of April 20, 2005: Agenda Item 2 (Appropriation of net profit), Agenda Item 3 (Ratification of Management Board actions), Agenda Item 4 (Ratification of Supervisory Board actions) and Agenda Item 7 (Authorization to purchase and use the company s own shares pursuant to Section 71 (1) (8) of the German Stock Corporations Act ( AktG ), including the Management Participation Program). The Berlin Regional Court dismissed the action in first instance on February 9, Dr. Oliver Krauß filed an appeal against this decision on March 9, The appeal lodged by Dr. Krauß is currently pending before the Appellate Court (Case No. 23 U 49/06). Axel Springer AG has moved for dismissal of the appeal. Annual Shareholders Meeting 2006 The shareholders present and represented at the annual shareholders meeting of Axel Springer AG, which was held in Berlin on April 27, 2006, approved the proposed resolutions on the meeting agenda with majorities of 99 % in every case. The adopted resolutions related to the authorization to purchase and use the company s own shares and the distribution of a 1.70 dividend per qualifying share. A total of 28.9 million shares were present or represented at the meeting, accounting for 85.1 % of the company s capital stock. On May 24, 2006, Dr. Oliver Krauß brought an action contesting the resolutions adopted at the annual shareholders meeting of April 27, 2006 concerning the ratification of Management Board and Supervisory Board actions and the authorization to purchase and use the company s own shares. The action is currently pending before the Berlin Regional Court (Case No. 93 O 86/06). Axel Springer AG is defending against all the claims asserted in this action.

12 INTERIM REPORT JANUARY JUNE 2006 / AXEL SPRINGER AG 11 Outlook The economic upswing that is currently underway is expected to strengthen in the further course of The research institution Das Deutsche Institut für Wirtschaftsforschung is forecasting real economic growth of 1.8% for the full year In view of the favorable global economic environment, exports are expected to increase 10.3 %. Imports are also expected to jump sharply, by 9.4 %. Capital investments are expected to grow 3.0 %. As a result of rising disposable incomes and better conditions in the labor market, consumer spending is expected to increase slightly, at a real rate of 0.7 %, in In view of the increase in the value-added tax rate that will take effect at the beginning of 2007, it is expected that consumers will move up their purchases in the second half of Consumer prices are forecast to rise 1.6 % for the year, on average. It is assumed that the savings rate will increase slightly to 11.0 %. For 2006, the Management Board anticipates a moderate increase in the revenues from its core business, consisting of circulation revenues and advertising revenues. Because the discontinuation of the rotogravure revenues will be reflected in the full-year results for the first time, the total revenues for 2006 are expected to be slightly lower than the corresponding prior-year figure. For the full-year 2006, the Management Board intends to step up its capital expenditures in the core business of German-language publications, as well as internationalization and digitization. Thanks to strict cost management and the positive performance of the company s titles, and despite the heightened start-up costs, the Management Board anticipates that the company will generate an EBITA for 2006 that is on the same level as or even slightly higher than the record EBITA for In the advertising market, it is expected that the improving economic situation and the growing willingness of consumers to spend will continue to drive the growth of gross advertising revenues in the second half of It is also expected that the seasonal increase in advertising business towards the end of the year, especially for longlived capital goods, will be greater than usual this year because of the planned increase in the value-added tax. Industry experts are predicting that net advertising revenues for the full year 2006 will be approximately 2 % higher than the corresponding prior-year figure. The sectors that are seen as major contributors to the advertising growth trend are pharmaceuticals, body care, banks, energy companies and the automotive industry. However, the prospects for the advertising market are still very much dependent on the general economic environment. The critical question is whether the strong demand for advertising can hold up while the German economic upswing is not yet fully established.

13 12 INTERIM REPORT JANUARY JUNE 2006 / AXEL SPRINGER AG Interim Financial Statements Consolidated Balance Sheet Consolidated Balance Sheet EUR thousands ASSETS 06/30/ /31/2005 Non-Current Assets 1,710,223 1,616,482 Fixed assets 1,677,486 1,584,507 Intangible assets 129, ,894 Property, plant and equipment 763, ,522 Investment property 37,722 37,987 Non-current financial assets 747, ,104 Investments in associated companies accounted for by the equity method 279, ,532 Other non-current financial assets 467, ,572 Receivables and other assets 2,121 2,286 Deferred taxes 30,616 29,689 Current Assets 911, ,517 Inventories 41,400 49,031 Trade receivables 200, ,460 Receivables due from related parties 63,179 66,365 Current income tax receivables 23,469 25,185 Other assets 85,682 90,348 Cash and cash equivalents 497, ,128 Total Assets 2,621,679 2,611,999 Consolidated Balance Sheet EUR thousands EQUITY AND LIABILITIES 06/30/ /31/2005 Equity 1,338,677 1,184,989 Shareholders of Axel Springer AG 1,328,024 1,174,410 Minority interests 10,653 10,579 Non-Current Liabilities 603, ,484 Pension provisions 284, ,391 Other provisions 31,354 32,371 Financial liabilities 105, ,405 Other non-current liabilities 22,976 23,422 Deferred taxes 159, ,895 Current Liabilities 679, ,526 Pension provisions 45,731 46,752 Other provisions 153, ,773 Financial liabilities 12, ,556 Trade payables 171, ,197 Liabilities due to related parties 39,078 45,588 Current income tax liabilities 107,180 95,637 Other liabilities and accruals 150, ,023 Total Liabilities and Equity 2,621,679 2,611,999

14 INTERIM REPORT JANUARY JUNE 2006 / AXEL SPRINGER AG 13 Consolidated Income Statement Consolidated Income Statement EUR thousands Q2/2006 Q2/2005 Q1-2/2006 Q1-2/2005 Revenues 605, ,765 1,172,695 1,193,502 Other operating income 14,655 11,280 28,626 36,390 Change in inventories and internal costs capitalized ,209 Purchased goods and services - 203, , , ,019 Personnel expenses - 157, , , ,326 Depreciation, amortization and impairments - 15,415-20,250-30,476-39,719 Other operating expenses - 169, , , ,753 Income from investments 12,820 16,555 19,635 23,027 Income from associated companies accounted for under the equity method 4, ,905 6,374 Other investment income 8,818 15,616 11,730 16,653 Net financial income/expenses - 5,360-3,108 13,956-6,684 Interest income 7,442 2,905 10,741 5,335 Interest and similar expenses - 9,113-8,690-18,023-17,695 Other net financial expenses - 3,689 2,677 21,238 5,676 Income taxes - 34,502-35,903-77,770-64,856 Income from Continuing Operations 46,764 53, ,990 99,771 Income/Losses from Discontinued Operations - 2, ,563 1,552 Consolidated Net Income 44,201 53, , ,323 Consolidated net income attributable to shareholders of Axel Springer AG 42,288 52, , ,043 Consolidated net income attributable to minority interests 1, ,838 1,280 Basic Earnings per Share from Continuing Operations (in EUR) Diluted Earnings per Share from Continuing Operations (in EUR) Basic Earnings per Share (in EUR) Diluted Earnings per Share (in EUR)

15 14 INTERIM REPORT JANUARY JUNE 2006 / AXEL SPRINGER AG Consolidated Cash Flow Statement Consolidated Cash Flow Statement EUR thousands Q1-2/2006 Q1-2/2005 Consolidated net income 111, ,323 Depreciation, amortization, impairments on and increases in value of fixed assets 30,557 40,605 Equity income from associated companies - 7,905-6,374 Dividends received from associated companies accounted for under the equity method 7,240 7,277 Gains(-)/ losses(+) on disposal of fixed assets 2,540-1,345 Gains(-)/ losses(+) from discontinued operations 2,563-1,552 Other non-cash income and expenses - 3, Changes in deferred taxes 8,759 2,330 Change in other balance sheet items - 30,492-10,280 Cash Flow from Operating Activities 121, ,134 Proceeds from disposal of intangible assets, property, plant and equipment 4,655 13,319 Net cash inflow/outflow from initial consolidations/deconsolidations Purchases of intangible assets, property, plant and equipment and investment property - 17,771-32,240 Cash Flow from Investing Activities - 13,168-18,921 Dividends paid Dividends paid to shareholders of Axel Springer AG - 52,126-44,460 Dividends paid to minority interests - 2,723-1,036 Repayments of finance lease obligations ,285 Additions to other financial liabilities 2,292 2,821 Repayments of other financial liabilities - 141,813-10,883 Cash Flow from Financing Activities - 194,469-55,843 Cash Flow-Related Changes in Cash - 86,594 56,370 Effects of exchange rate changes on cash and cash equivalents Cash and cash equivalents at beginning of period 585, ,546 Cash and Cash Equivalents at End of Period 497, ,991

16 INTERIM REPORT JANUARY JUNE 2006 / AXEL SPRINGER AG 15 Statement of Changes in Equity Q1-2/2006 EUR thousands Number of Shares Outstanding Subscribed Capital Additional Consolidated Paid-In Retained Capital Earnings Treasury Shares Currency Translation Adjustments Minority Consolidated Interests Equity Balance 01/01/ ,662, ,000 26,574 1,041, ,203 1, ,791 28,746 1,174,410 10,579 1,184,989 Consolidated net income 108, ,589 2, ,427 Currency translation differences - 1,752-1, ,826 Changes in fair values of financial instruments 88,527 88, ,611 Consolidated Comprehensive Income 108,589-1,752 88, ,364 2, ,212 Dividends paid - 52,126-52,126-2,723-54,849 Management Participation Program 1,499 1,499 1,499 Other changes recognized directly in equity for companies accounted for under the equity method 8,861 8,861 8,861 H&F Call Option Other changes Balance 06/30/ ,662, ,000 28,089 1,098, , ,318 37,607 1,328,024 10,653 1,338,677 Q1-2/2005 EUR thousands Other Accumulated Equity Shareholders of Changes Other Axel in Fair Springer Values of AG Financial Instruments Number of Subscribed Shares Outstanding Capital Additional Consolidated Paid-In Retained Capital Earnings Treasury Shares Other Accumulated Equity Shareholders Changes Other of Axel in Fair Springer Values of AG Financial Instruments Currency Translation Adjustments Minority Interests Consolidated Equity Balance 01/01/ ,662, ,000 23, , , ,684 27, ,503 10, ,399 Consolidated net income 100, ,043 1, ,323 Currency translation differences Changes in fair value of financial instruments 41,599 41, ,893 Consolidated Comprehensive Income 100, , ,372 1, ,926 Dividends paid - 44,460-44,460-1,036-45,496 Management Participation Program 1,349 1,349 1,349 Other changes recognized directly in equity for companies accounted for under the equity method 1,364 1,364 1,364 H&F Call Option Other changes Balance 06/30/ ,662, ,000 24, , , ,283 28, ,083 11, ,497

17 16 INTERIM REPORT JANUARY JUNE 2006 / AXEL SPRINGER AG Explanatory Notes Segment Report Primary Reporting Format - Q2 EUR thousands Newspapers Magazines Printing Services/Holding Consolidated total Q2 Q2 Q2 Q2 Q2 Q2 Q2 Q2 Q2 Q External Revenues 370, , , ,539 11,422 28,962 19,013 22, , ,765 Internal revenues 4,351 5,630 1,906 2,054 58,207 80,051 35,889 33,901 Segment revenues 375, , , ,593 69, ,013 54,902 56,625 EBITDA 74,841 82,257 26,250 22,385 6,251 10,294-5,301-2, , ,580 Income from investments included therein 5,611 1,091 1,279 2, ,444 13,172 12,820 16,555 Thereof accounted for under the equity method 3, ,903 1, , Depreciation, amortization and impairments - 1,591-1,659-1,840-1,888-6,765-10,294-5,219-6,409-15,415-20,250 Segment Earnings (EBITA) 73,250 80,598 24,410 20, ,520-8,765 86,626 92,330 Impairment loss on goodwill EBIT 73,250 80,598 24,410 20, ,520-8,765 86,626 92,330 Non-recurring items Earnings before Interest, Taxes and Discontinued Operations 73,250 80,598 24,410 20, ,520-8,175 86,626 92,920 Net financial income - 5,360-3,108 Income taxes - 34,502-35,903 Income from Continuing Operations 46,764 53,909 Secondary Reporting Format - Q2 EUR thousands Domestic Foreign Consolidated total Q2 Q2 Q2 Q2 Q2 Q Consolidated external revenues 504, , , , , ,765

18 ZWISCHENBERICHT JANUAR JUNI 2006 / AXEL SPRINGER AG 17 Primary Reporting Format - First Half EUR thousands Newspapers Magazines Printing Services/Holding Consolidated total Q1-2 Q1-2 Q1-2 Q1-2 Q1-2 Q1-2 Q1-2 Q1-2 Q1-2 Q External Revenues 718, , , ,976 23,446 57,821 34,722 40,364 1,172,695 1,193,502 Internal revenues 8,123 9,968 3,562 3, , ,855 71,731 69,104 Segment revenues 726, , , , , , , ,468 EBITDA 159, ,590 45,407 38,371 11,924 20,303-8,696-7, , ,728 Income from investments included therein 9,259 4,381 3,084 4,489-1, ,852 14,157 19,635 23,027 Thereof accounted for under the equity method 6,975 2,681 3,292 3,624-1, ,905 6,374 Depreciation, amortization and impairments - 2,915-3,076-3,762-3,565-13,484-20,303-10,315-12,775-30,476-39,719 Segment Earnings (EBITA) 156, ,514 41,645 34,806-1, ,011-20, , ,009 Impairment loss on goodwill EBIT 156, ,514 41,645 34,806-1, ,011-20, , ,009 Non-recurring items , ,698 Earnings before Interest, Taxes and Discontinued Operations 156, ,514 41,645 34,806-1, ,011-22, , ,311 Net financial income 13,956-6,684 Income taxes - 77,770-64,856 Income from Continuing Operations 113,990 99,771 Secondary Reporting Format - First Half EUR thousands Domestic Foreign Consolidated total Q1-2 Q1-2 Q1-2 Q1-2 Q1-2 Q Consolidated external revenues 986, , , ,447 1,172,695 1,193,502

19 18 INTERIM REPORT JANUARY JUNE 2006 / AXEL SPRINGER AG General Information The present interim financial statements at June 30, 2006 have been drawn up in accordance with IAS 34 Interim Reporting. In some cases, the format of the interim financial statements has been abridged from the format used in the consolidated financial statements for The accounting and valuation methods and the estimation methods applied in the interim financial statements at June 30, 2006 are the same as those applied in the consolidated financial statements at December 31, A detailed description of these methods has been published in the notes to the consolidated financial statements in the 2005 Annual Report. In the table below, the consolidation group of the Axel Springer Group at June 30, 2006 is presented and contrasted with the consolidation group at December 31, 2005: Fully Consolidated Companies Domestic Foreign Fully Consolidated Special- Purpose Entities Domestic 4 4 Foreign 1 1 Companies Consolidated under the Equity Method Domestic 10 7 Foreign 2 1 Consolidation Group All significant domestic and foreign subsidiaries in which Axel Springer AG exercises control over financial and operational policies, directly or indirectly, are included in the interim financial statements of the Axel Springer Group. The consolidation group has undergone the following changes since the end of In the first quarter of 2006, Axel Springer AG contributed its equity holding in PIN intelligente dienstleistungen AG, Berlin, which had formerly been accounted for by the equity method, and the company Punkt Direktvertriebs GmbH, Hamburg, which had formerly been fully consolidated, to PIN Group AG, Leudelingen/Luxembourg. Besides the PIN Group AG, the equity holdings in Kieler Zeitung, Verlagsund Druckerei KG-GmbH & Co., Kiel, Kieler Zeitung Verwaltungs GmbH & Co. Beteiligungs KG, Kiel, Kieler Zeitung GmbH & Co. Offsetdruck KG, Kiel, and Lübecker Nachrichten GmbH, Lübeck, were included in the consolidation group for the first time and accounted for by the equity method. Discontinued Operations In the period covered by this report, subsequent expenses were incurred in relation to the sale of Ullstein Heine List GmbH & Co. KG, in connection with the divestment of the Books segment. The prior-year figures consisted of subsequent income and expenses related to the sale of Ullstein Heine List GmbH & Co. KG, in connection with the discontinuation of the Books segment and Weltkunst Verlag GmbH. Other disclosures At June 30, 2006, the company held 3,337,700 of its own shares, the same number held at December 31, The net financial income for the period covered by this report contains a one-time gain of EUR 22.4 million from an interest rate hedging deal entered into in connection with the financing of the planned acquisition of ProSiebenSat.1 Media AG.

20 ZWISCHENBERICHT JANUAR JUNI 2006 / AXEL SPRINGER AG 19 Report of the Audit Committee of the Supervisory Board The interim report for the period January June 2006 and the report of the independent auditor on the critical review of the interim financial statements, which served as the basis for the auditor s opinion, were duly submitted to the Audit Committee of the Supervisory Board, which discussed these documents with the Management Board and with the independent auditor. The Audit Committee approved the interim financial statements. Berlin, July 2006 Dr. Giuseppe Vita Chairman of the Audit Committee Disclaimer This interim report contains forward-looking statements, which entail risks and uncertainties. The future development and results of Axel Springer AG and the Axel Springer Group may differ considerably from the assumptions applied in this interim report. This interim report does not constitute an offer to sell, nor an invitation to submit an offer to buy, securities of Axel Springer AG. The company bears no obligation to update the statements contained in this interim report. Financial Calendar 2006 Annual Results Press Conference March 8, 2006 Annual Shareholders' Meeting April 27, 2006 Interim Report January March 2006 May 9, 2006 Interim Report January June 2006 July 31, 2006 Interim Report January September 2006 November 8, 2006 Share information in Q1-2/ 2006 Q1-2/ 2005 Change Earnings per share % Closing price % Highest price % Lowest price % Average price % Listing Information Share type Registered share with restricted transfer-ability Stock exchange Frankfurt (Official Exchange) Stock exchange segment General Standard Securities Identification No ISIN DE Reuters SPRGn.F Bloomberg SPR GR Contact Axel Springer AG Investor Relations Fax Claudia Thomé Tel Adress Axel Springer AG Axel-Springer-Str Berlin Tel Information Additional information about Axel Springer AG is available on the Internet at: This interim report is also available in German. Diana Grigoriev Tel

Interim Report Q1/06 January 1 to March 31, 2006

Interim Report Q1/06 January 1 to March 31, 2006 Interim Report Q1/06 January 1 to March 31, 2006 INTERIM REPORT JANUARY MARCH 2006 / AXEL SPRINGER AG 1 Key Figures Group Key Figures Group Q1/2006 Q1/2005 Change in millions IFRS IFRS year-on-year Revenues

More information

Interim Report Q1-3/06 January 1 to September 30, 2006

Interim Report Q1-3/06 January 1 to September 30, 2006 Interim Report Q1-3/06 January 1 to September 30, 2006 INTERIM REPORT JANUARY SEPTEMBER 2006 / AXEL SPRINGER AG 1 Key Figures Group Key Figures Group Q1-3/2006 Q1-3/2005 Change in millions IFRS IFRS year-on-year

More information

TO OUR SHAREHOLDERS PROFITABLE GROWTH COURSE INTERNATIONALIZATION FURTHER EXTENDED US MARKET IN FOCUS

TO OUR SHAREHOLDERS PROFITABLE GROWTH COURSE INTERNATIONALIZATION FURTHER EXTENDED US MARKET IN FOCUS QUARTERLY STATEMENT AS OF MARCH 31, 2015 TO OUR SHAREHOLDERS Patrik Heider, Spokesman of the Executive Board and CFOO The Nemetschek Group has made a dynamic start in the 2015 financial year and continues

More information

TO OUR SHAREHOLDERS DYNAMIC FIRST HALF YEAR

TO OUR SHAREHOLDERS DYNAMIC FIRST HALF YEAR HALF YEAR REPORT AS OF JUNE 30, 2015 TO OUR SHAREHOLDERS Patrik Heider, Spokesman of the Executive Board and CFOO The Nemetschek Group maintained its dynamic development from the first quarter of 2015

More information

HALF YEAR REPORT AS OF JUNE 30

HALF YEAR REPORT AS OF JUNE 30 2 0 1 4 HALF YEAR REPORT AS OF JUNE 30 T O O U R S H A R E H O L D E R S Dear shareholders, ladies and gentlemen, The Nemetschek Group continued its successful development in the second quarter of 2014

More information

Logwin AG. Interim Financial Report as of 31 March 2015

Logwin AG. Interim Financial Report as of 31 March 2015 Logwin AG Interim Financial Report as of 31 March 2015 Key Figures 1 January 31 March 2015 Earnings position In thousand EUR 2015 2014 Revenues Group 274,433 278,533 Change on 2014-1.5% Solutions 101,821

More information

I N T E R I M R E P O R T J A N U A RY 1 T O S E P T E M B E R

I N T E R I M R E P O R T J A N U A RY 1 T O S E P T E M B E R INTERIM REPORT J A N U A RY 1 T O S E P T E M B E R 3 0, 2 0 0 4 G R O U P K E Y D ATA Q1 3/2004 Q1 3/2003 Change in d million in d million in % Sales 1 831.2 1 788.8 2.4 Profit EBITA 2) 261.8 163.7 59.9

More information

Interim management statement

Interim management statement Interim management statement 1st quarter of 2016 FIRST QUARTER AT A GLANCE DEUTZ Group: Overview DEUTZ Group: Segments New orders 327.3 321.0 Unit sales (units) 32,112 36,907 Revenue 300.2 318.1 EBITDA

More information

9-MONTHS REPORT. Stable development of business in Q3 Lila Logistik confirms full-year forecast

9-MONTHS REPORT. Stable development of business in Q3 Lila Logistik confirms full-year forecast /08 9-MONTHS REPORT Stable development of business in Q3 Lila Logistik confirms full-year forecast Key figures for the first three quarters of 2008 in accordance with IFRS 01.01. 01.01. Change in Change

More information

HORNBACH Baumarkt AG Group Q3/9M 2016/2017

HORNBACH Baumarkt AG Group Q3/9M 2016/2017 HORNBACH Baumarkt AG Group Q3/9M 2016/2017 Quarterly Statement as of November 30, 2016 2 HORNBACH BAUMARKT AG GROUP QUARTERLY STATEMENT: 3 RD QUARTER OF 2016/2017 HORNBACH BAUMARKT AG GROUP Statement on

More information

Unaudited Financial Report

Unaudited Financial Report RECRUITING SERVICES Amadeus FiRe AG Unaudited Financial Report Quarter I - 2015 Temporary Staffing. Permanent Placement Interim Management. Training www.amadeus-fire.de Unaudited Amadeus FiRe Group Financial

More information

Ahlers AG, Herford. ISIN DE0005009708 and DE0005009732 INTERIM REPORT

Ahlers AG, Herford. ISIN DE0005009708 and DE0005009732 INTERIM REPORT Ahlers AG, Herford ISIN DE0005009708 and DE0005009732 I N T E R I M R E P O R T for the first six months of the 2006/07 financial year (December 1, 2006 to May 31, 2007) BUSINESS DEVELOPMENT IN THE FIRST

More information

Logwin AG. Nine-Month Financial Report 2014

Logwin AG. Nine-Month Financial Report 2014 Logwin AG Nine-Month Financial Report 2014 Key Figures 1 January 30 September 2014 Earnings position In thousand EUR 2014 2013 Revenues Group 842,390 932,384 Change on 2013-9.7 % Solutions 366,604 470,658

More information

Travel24.com AG. Quarterly Report Q1 2015

Travel24.com AG. Quarterly Report Q1 2015 Travel24.com AG Quarterly Report Q1 2015 2 Selected Key Group Data January 1 - March 31 Change In thousands of euro 2015 2014 % Revenue 4,494 7,810-42 % EBIT 806 1,231-35 % Net profit 66 518-87 % Earnings

More information

2015 Quarterly Report II

2015 Quarterly Report II 2015 Quarterly Report II 2 Key data Eckert & Ziegler 01 06/2015 01 06/2014 Change Sales million 69.0 61.9 + 11 % Return on revenue before tax % 16 % 9 % + 87 % EBITDA million 15.6 9.7 + 61 % EBIT million

More information

Overview of the key figures for the first half of the year

Overview of the key figures for the first half of the year Half-Year Report 2015 Q2 Revenues increase in the first half of the year by 23% EBIT increased by 1.5 million euros compared to the previous year Order book is growing Overall annual forecast remains unchanged

More information

HORNBACH Holding AG & Co. KGaA Group Q3/9M 2016/2017

HORNBACH Holding AG & Co. KGaA Group Q3/9M 2016/2017 HORNBACH Holding AG & Co. KGaA Group Q3/9M 2016/2017 Quarterly Statement as of November 30, 2016 2 HORNBACH HOLDING AG & CO. KGaA GROUP QUARTERLY STATEMENT: 3 RD QUARTER OF 2016/2017 HORNBACH HOLDING AG

More information

GrandVision reports Revenue growth of 13.8% and EPS growth of 31.7%

GrandVision reports Revenue growth of 13.8% and EPS growth of 31.7% GrandVision reports Revenue of 13.8% and EPS of 31.7% Schiphol, the Netherlands 16 March 2015. GrandVision NV (EURONEXT: GVNV) publishes Full Year and Fourth Quarter 2015 results. 2015 Highlights Revenue

More information

3 M O N T H S R E P O R T 2 O O 3 / 2 O O 4

3 M O N T H S R E P O R T 2 O O 3 / 2 O O 4 3 M O N T H S R E P O R T 2 O O 3 / 2 O O 4 Content 03 Hönle at a glance 04 Letter to the Shareholders 06 Management Report 09 Consolidated financial statement 17 Shareholdings of the corporate bodies

More information

Contact 6-Month Report 2005

Contact 6-Month Report 2005 Contact 6-Month Report 2005 Security Networks AG Kronprinzenstrasse 30 45128 ssen Germany Phone: +49 (0) 201 54 54-0 Fax: +49 (0) 201 54 54-456 Internet: www..com -mail: investor.relations@.com Key figures

More information

DEUFOL SE JOHANNES-GUTENBERG-STR. 3 5 65719 HOFHEIM (WALLAU), GERMANY PHONE: + 49 (61 22) 50-00 FAX: + 49 (61 22) 50-13 00 WWW.

DEUFOL SE JOHANNES-GUTENBERG-STR. 3 5 65719 HOFHEIM (WALLAU), GERMANY PHONE: + 49 (61 22) 50-00 FAX: + 49 (61 22) 50-13 00 WWW. SEMI-ANNUAL REPORT 5 Key Figures for the Deufol Group figures in thousand 6M 2015 6M 2014 Results of operations Revenue (total) 152,088 141,450 Germany 83,770 77,730 Rest of the World 68,318 63,720 International

More information

Earnings Release Q2 FY 2015 January 1 to March 31, 2015

Earnings Release Q2 FY 2015 January 1 to March 31, 2015 Munich, Germany, May 7, 2015 Earnings Release FY 2015 January 1 to March 31, 2015 Portfolio gains drive income»for business volume, we performed well in our markets. The profitability of our Industrial

More information

Schaeffler Group at a glance

Schaeffler Group at a glance Facts and figures First quarter 2016 Schaeffler Group at a glance Key figures Income statement (in millions) 2016 2015 Change Revenue 3,343 3,339 0.1 % at constant currency 2.4 % EBIT 421 434-3.0 % in

More information

Financial Results. siemens.com

Financial Results. siemens.com s Financial Results Fourth Quarter and Fiscal 2015 siemens.com Key figures (in millions of, except where otherwise stated) Volume Q4 % Change Fiscal Year % Change FY 2015 FY 2014 Actual Comp. 1 2015 2014

More information

Overview of the key figures for the first nine months

Overview of the key figures for the first nine months Continued revenue growth: up 12% on previous year Results impacted by revenue structure and one-off effects High volume of orders: outlook remains optimistic Q3 Overview of the key figures for the first

More information

Earnings Release Q3 FY 2015 April 1 to June 30, 2015

Earnings Release Q3 FY 2015 April 1 to June 30, 2015 Munich, Germany, July 30, 2015 Earnings Release FY 2015 April 1 to June 30, 2015 Solid performance, softening market environment»overall our businesses delivered solid underlying profitability despite

More information

Ahlers AG, Herford. ISIN DE0005009708 and DE0005009732 INTERIM REPORT

Ahlers AG, Herford. ISIN DE0005009708 and DE0005009732 INTERIM REPORT Ahlers AG, Herford ISIN DE0005009708 and DE0005009732 on the first nine months of fiscal 2005/06 (December 1, 2005, to August 31, 2006) BUSINESS DEVELOPMENT IN THE FIRST NINE MONTHS OF FISCAL 2005/06 According

More information

2014/2015 The IndusTrIal Group

2014/2015 The IndusTrIal Group Q1 2014/2015 Interim Report 1 April to 30 june 2014 The Industrial Group The essentials at a glance in the first quarter Big increase in incoming orders, sales on par with previous year, earnings considerably

More information

Interim report as at 31 March 2015

Interim report as at 31 March 2015 Interim report as at 31 March 2015 Increase of unit sales, revenue and profit Dividend raises to 1.60 per share Fielmann expects continuation of positive business performance Fielmann Aktiengesellschaft

More information

Earnings Release Q1 FY 2016 October 1 to December 31, 2015

Earnings Release Q1 FY 2016 October 1 to December 31, 2015 Munich, Germany, January 25, 2016 Earnings Release FY 2016 October 1 to December 31, 2015 Strong start into the fiscal year earnings outlook raised»we delivered a strong quarter and are well underway in

More information

2014/2015 The IndusTrIal Group

2014/2015 The IndusTrIal Group Q2 2014/2015 Half-Year Interim Report 2014/2015 1 April to 30 September 2014 The Industrial Group The first six months of financial year 2014/2015 at a glance Incoming orders increased in the first half

More information

2014 Quarterly Report II

2014 Quarterly Report II 2014 Quarterly Report II 2 Key data Eckert & Ziegler 01 06/2014 01 06/2013 Change Sales million 61.9 55.3 12% Return on revenue before tax % 9 % 12 % 26 % EBITDA million 9.7 10.2 5 % EBIT million 6.2 6.9

More information

Interim report as at 31 March 2014. Unit sales, revenue and profit increase Dividend increases to 2.90 per share Stock split ratio of two-for-one

Interim report as at 31 March 2014. Unit sales, revenue and profit increase Dividend increases to 2.90 per share Stock split ratio of two-for-one Interim report as at 31 March 2014 Unit sales, revenue and profit increase Dividend increases to 2.90 per share Stock split ratio of two-for-one Fielmann Aktiengesellschaft Group interim report as at 31

More information

2OO 6 9 MONTHS REPORT 2OO 7

2OO 6 9 MONTHS REPORT 2OO 7 2OO 6 9 MONTHS REPORT 2OO 7 Hönle at a glance Hönle Group Figures 1) 2006/2007 2005/2006 Changes 9 months 9 months Income Statement T T in % Revenues 19,055 17,081 11.6 EBITDA 3,504 2,661 31.7 EBIT 3,005

More information

Report for the quarter ending March 31, 2004

Report for the quarter ending March 31, 2004 TAG Tegernsee Immobilien- und Beteiligungs-Aktiengesellschaft WKN 830 350 I S I N DE0008303504 Reuters TEGG Mu.F, Bloomberg TEG GR Report for the quarter ending March 31, 2004 TAG reporting consolidated

More information

Interim Report HORNBACH HOLDING AG GROUP. 1st QUARTER 2004/2005 (March 1 to May 31, 2004)

Interim Report HORNBACH HOLDING AG GROUP. 1st QUARTER 2004/2005 (March 1 to May 31, 2004) Interim Report HORNBACH HOLDING AG GROUP 1st QUARTER 2004/2005 (March 1 to May 31, 2004) page 2 HORNBACH HOLDING AG Group Interim Report (IFRS) for the First Quarter of 2004/2005 (March 1 to May 31, 2004)

More information

HORNBACH Holding AG & Co. KGaA Group. 1 st QUARTER 2016/2017

HORNBACH Holding AG & Co. KGaA Group. 1 st QUARTER 2016/2017 HORNBACH Holding AG & Co. KGaA Group 1 st QUARTER 2016/2017 Quarterly Statement as of May 31, 2016 2 HORNBACH HOLDING AG & CO. KGaA GROUP STATEMENT ON 1 ST QUARTER OF 2016/2017 HORNBACH HOLDING AG & CO.

More information

Ströer continuing on its profitable course of digital growth in Q3 and significantly raising its guidance for both 2015 and 2016

Ströer continuing on its profitable course of digital growth in Q3 and significantly raising its guidance for both 2015 and 2016 PRESS RELEASE Ströer continuing on its profitable course of digital growth in Q3 and significantly raising its guidance for both 2015 and 2016 Ströer anticipating consolidated revenue of between EUR 1.1b

More information

Unaudited Half Year Financial Report January June 2013. Creating career prospects and deploying targeted professional skills.

Unaudited Half Year Financial Report January June 2013. Creating career prospects and deploying targeted professional skills. Creating career prospects and deploying targeted professional skills Amadeus FiRe AG Unaudited Half Year Financial Report January June 2013 Unaudited Half Year Financial Report, January June 2013 1 Unaudited

More information

Consolidated Earnings Report for the Second Quarter of Fiscal 2011 [Japanese GAAP]

Consolidated Earnings Report for the Second Quarter of Fiscal 2011 [Japanese GAAP] Consolidated Earnings Report for the Second Quarter of Fiscal 2011 [Japanese GAAP] October 27, 2010 Company Name: KOITO MANUFACTURING CO., LTD. Stock Listing: First Section, Tokyo Stock Exchange Code Number:

More information

NorCom Information Technology AG, Munich. Interim Report for the 1st half of 2006

NorCom Information Technology AG, Munich. Interim Report for the 1st half of 2006 2006 NorCom Information Technology AG, Munich Interim Report for the 1st half of 2006 NorCom Information Technology AG at a glance IFRS Group indicators Jan-Jun 2006 Jan-Jun 2005 Revenues 13,144,811 12,374,916

More information

GrandVision reports 2.8 billion Revenue and 449 million EBITDA for 2014

GrandVision reports 2.8 billion Revenue and 449 million EBITDA for 2014 GrandVision reports 2.8 billion Revenue and 449 million EBITDA for 2014 Schiphol, the Netherlands 18 March 2015. GrandVision N.V. publishes Full Year and Quarter 2014 results. 2014 Highlights Revenue grew

More information

QUARTERLY REPORT For the six months ended September 30, 2012 010_0774017502412.indd 2 2012/12/21 11:54:11

QUARTERLY REPORT For the six months ended September 30, 2012 010_0774017502412.indd 2 2012/12/21 11:54:11 QUARTERLY REPORT For the six months ended September 30, 2012 QUALITATIVE INFORMATION (1) Qualitative Information Relating to Consolidated Quarterly Operating Results During the first half of the fiscal

More information

UNAUDITED CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS FOR THE SIX MONTHS ENDED JUNE 30, 2015

UNAUDITED CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS FOR THE SIX MONTHS ENDED JUNE 30, 2015 BE SEMICONDUCTOR INDUSTRIES N.V. DUIVEN, THE NETHERLANDS UNAUDITED CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS FOR THE SIX MONTHS ENDED JUNE 30, 2015 Contents Unaudited Condensed Interim Consolidated

More information

3-month report January - March 2007 Published on August 10, 2007

3-month report January - March 2007 Published on August 10, 2007 3-month report January - March 2007 Published on August 10, 2007 3-month report January March 2007 1. Group management report for the first quarter of 2007 Overview of the first quarter in 2007 Continued

More information

Consolidated balance sheet

Consolidated balance sheet 83 Consolidated balance sheet December 31 Non-current assets Goodwill 14 675.1 978.4 Other intangible assets 14 317.4 303.8 Property, plant, and equipment 15 530.7 492.0 Investment in associates 16 2.5

More information

Consolidated Interim Report

Consolidated Interim Report Consolidated Interim Report as of 31 March 2015 UNIWHEELS AG CONTENTS 1. Key performance data 2. Condensed group management report as of 31 March 2015 3. Condensed consolidated financial statements as

More information

Interim report as at 30 September 2014

Interim report as at 30 September 2014 Interim report as at 30 September 2014 Fielmann increases unit sales, revenue and profit Result registers significant growth in the 3 rd quarter of 2014 Fielmann trains more than 2,900 opticians Fielmann

More information

Unaudited Nine Months Financial Report

Unaudited Nine Months Financial Report RECRUITING SERVICES Amadeus FiRe AG Unaudited Nine Months Financial Report January to September 2015 Temporary Staffing. Permanent Placement Interim Management. Training www.amadeus-fire.de Unaudited Nine

More information

CENIT AG Systemhaus. Industriestraße 52-54 D-70565 Stuttgart Tel: + 49 711 7825-30 Fax: + 49 711 7825-4000 Internet: http://www.cenit.

CENIT AG Systemhaus. Industriestraße 52-54 D-70565 Stuttgart Tel: + 49 711 7825-30 Fax: + 49 711 7825-4000 Internet: http://www.cenit. 9 Months Report 2007 CENIT AG Systemhaus Industriestraße 52-54 D-70565 Stuttgart Tel: + 49 711 7825-30 Fax: + 49 711 7825-4000 Internet: http://www.cenit.de Investor Relations: ISIN:DE0005407100 Fabian

More information

Significant investment in Slovenia and bond issuance

Significant investment in Slovenia and bond issuance DDM DEBT AB (publ) Corporate Registration Number: 559053-6230 Interim Report Q3 1 July 30 September Significant investment in Slovenia and bond issuance Highlights third quarter Net collections of EUR

More information

Snap-on Announces Third Quarter 2009 Results

Snap-on Announces Third Quarter 2009 Results Release: IMMEDIATE Snap-on Announces Third Quarter 2009 Results Sales of $581.8 million and EPS of $0.44 for the third quarter of 2009; Financial Services transition on track; Continued strong operating

More information

Significant reduction in net loss

Significant reduction in net loss press release 12 May 2015 Royal Imtech publishes first quarter 2015 results Significant reduction in net loss Order intake in Q1 at a satisfactorily level of 912 million Revenue 3% down excluding Germany

More information

Consolidated Statement of Profit or Loss (in million Euro)

Consolidated Statement of Profit or Loss (in million Euro) Consolidated Statement of Profit or Loss (in million Euro) FY 2014 FY 2015 % change Q4 2014 Q4 2015 % change un Revenue 2,620 2,646 1.0% 711 672-5.5% Cost of sales (1,813) (1,804) -0.5% (489) (464) -5.1%

More information

Siegfried when substance matters Semi-annual report 2008

Siegfried when substance matters Semi-annual report 2008 Siegfried when substance matters Semi-annual report 2008 Key figures Continuing Operations 1 st Half-Year 2008 1 st Half-Year 2007 Difference Change in % Net sales (million CHF) 159.6 157.8 1.8 1.2 Net

More information

Interim report as at 30 September 2015

Interim report as at 30 September 2015 Interim report as at 30 September 2015 Fielmann improves unit sales, revenue and profit Specialists of tomorrow: 3,000 apprentices Fielmann creates 500 new jobs Fielmann Aktiengesellschaft Group interim

More information

Financial Summary for First 2 Quarters of Fiscal 2017 [Japanese GAAP] [Consolidated]

Financial Summary for First 2 Quarters of Fiscal 2017 [Japanese GAAP] [Consolidated] Financial Summary for First 2 Quarters of Fiscal 2017 [Japanese GAAP] [Consolidated] October 28, 2016 Name of listed company ZENRIN CO.,LTD. Stock exchange listings: Tokyo and Fukuoka Securities code 9474

More information

NET INCOME FOR 2014 OF 557 MILLION (2013: 431 MILLION) NET ASSET VALUE INCREASES BY 380 MILLION

NET INCOME FOR 2014 OF 557 MILLION (2013: 431 MILLION) NET ASSET VALUE INCREASES BY 380 MILLION Press release HAL NET INCOME FOR 2014 OF 557 MILLION (2013: 431 MILLION) NET ASSET VALUE INCREASES BY 380 MILLION Net income of HAL Holding N.V. for 2014 amounted to 557 million ( 7.64 per share) compared

More information

CONFERENCE CALL Q1-Q3 2010. 10 November 2010

CONFERENCE CALL Q1-Q3 2010. 10 November 2010 CONFERENCE CALL Q1-Q3 2010 10 November 2010 Agenda Overview Q1-Q3 Q3 2010 Dr Helmut Leube, Chairman of the Management Board Key financials i Q1-Q3 Q3 2010 Dr Margarete Haase, CFO Outlook Dr Helmut Leube,

More information

Consolidated Settlement of Accounts for the First 3 Quarters Ended December 31, 2011 [Japanese Standards]

Consolidated Settlement of Accounts for the First 3 Quarters Ended December 31, 2011 [Japanese Standards] The figures for these Financial Statements are prepared in accordance with the accounting principles based on Japanese law. Accordingly, they do not necessarily match the figures in the Annual Report issued

More information

The Sumitomo Warehouse Co., Ltd.

The Sumitomo Warehouse Co., Ltd. Consolidated Financial Results for the Year Ended March 31, 2014[ Japan GAAP ] May 13, 2014 The Sumitomo Warehouse Co., Ltd. Securities code: 9303 Stock exchange listings: URL: Representative: Inquiries:

More information

Speeches on the occasion of Annual Results Press Conference Axel Springer AG

Speeches on the occasion of Annual Results Press Conference Axel Springer AG Speeches on the occasion of Annual Results Press Conference Axel Springer AG Dr. Mathias Döpfner Chairman and Chief Executive Officer Lothar Lanz Chief Operating Officer and Chief Financial Officer März

More information

Quarter I Report - 2005 AMADEUS FIRE AG

Quarter I Report - 2005 AMADEUS FIRE AG Quarter I Report - 2005 AMADEUS FIRE AG www.amadeus-fire.com 2 AMADEUS FIRE Group Financial Summary Amounts stated in EUR k Sales revenues Gross profit on sales Gross profit margin in % EBITDA EBITDA margin

More information

Kensuke Imura, General Manager, Corporate Strategy Dept.

Kensuke Imura, General Manager, Corporate Strategy Dept. *This is an English translation for reference purpose only, and the original disclosure document was filed on November 11, 2016 at 16:00 (GMT+9) Summary of Financial Statements for the Second Quarter of

More information

Consolidated Balance Sheets

Consolidated Balance Sheets Consolidated Balance Sheets March 31 2015 2014 2015 Assets: Current assets Cash and cash equivalents 726,888 604,571 $ 6,057,400 Marketable securities 19,033 16,635 158,608 Notes and accounts receivable:

More information

China Clean Energy Announces Third Quarter 2011 Financial Results

China Clean Energy Announces Third Quarter 2011 Financial Results China Clean Energy Inc. ccontact: China Clean Energy Inc. William Chen, CFO Email: william.chen@chinacleanenergyinc.com Website: http://www.chinacleanenergyinc.com CCG Investor Relations Inc. David Rudnick,

More information

CONSOLIDATED INCOME STATEMENTS

CONSOLIDATED INCOME STATEMENTS ATTACHMENTS TO THE PRESS RELEASE The consolidated Income Statements, consolidated Statements of Financial Position and the Consolidated Statements of Cash Flows as well as the Net Financial Debt of INWIT,

More information

Financial Summary. as a % of balance sheet total

Financial Summary. as a % of balance sheet total InVision AG Financial Report 6M 2015 Consolidated Interim Financial Statements of InVision AG as of 30 June 2015 in accordance with IFRS and 315a of the German Commercial Code as well as the Group management

More information

3. CONSOLIDATED QUARTERLY FINANCIAL STATEMENTS

3. CONSOLIDATED QUARTERLY FINANCIAL STATEMENTS 3. CONSOLIDATED QUARTERLY FINANCIAL STATEMENTS (1) Consolidated Quarterly Balance Sheets September 30, 2014 and March 31, 2014 Supplementary Information 2Q FY March 2015 March 31, 2014 September 30, 2014

More information

Aalberts Industries increases earnings per share +10%

Aalberts Industries increases earnings per share +10% Aalberts Industries increases earnings per share +10% Langbroek, 26 February 2015 Highlights o Revenue EUR 2,201 million, increase +8% (organic +3.1%) o Operating profit (EBITA) +10% to EUR 247 million;

More information

FINANCIAL REPORT H1 2014

FINANCIAL REPORT H1 2014 FINANCIAL REPORT H1 2014 HIGH SPEED BY PASSION 02_Key Figures 03_Group Status Report 05_Consolidated Financial Statements 10_Notes 11_Declaration of the Legal Representatives 02 PANKL KEY FIGURES EARNING

More information

1 st QUARTER 2015/2016

1 st QUARTER 2015/2016 INTERIM REPORT HORNBACH-BAUMARKT-AG GROUP 1 st QUARTER 2015/2016 (MARCH 1 MAY 31, 2015) 2 HORNBACH-BAUMARKT-AG GROUP INTERIM REPORT: 1 ST QUARTER OF 2015/2016 HORNBACH-BAUMARKT-AG GROUP Interim Report:

More information

February 6, 2013 Consolidated Financial Results of the Third Quarter ended December 31, 2012 (Japanese Standards)

February 6, 2013 Consolidated Financial Results of the Third Quarter ended December 31, 2012 (Japanese Standards) February 6, 2013 Consolidated Financial Results of the Third Quarter ended December 31, 2012 (Japanese Standards) Company name: NIKON CORPORATION Code number: 7731; Stock listings: Tokyo Stock Exchange

More information

N O R M A G R O U P S E

N O R M A G R O U P S E NORMA GROUP SE Overview of Key Figures 2016 Q1 2016 Q1 2015 change in % Order situation Order book (31 Mar) EUR millions 284.7 300.0 5.1 Income statement Revenue EUR millions 226.6 221.5 2.3 Gross profit

More information

Logwin AG. Interim Financial Report as of 30 June 2015

Logwin AG. Interim Financial Report as of 30 June 2015 Logwin AG Interim Financial Report as of 30 June 2015 Key Figures 1 January 30 June 2015 Earnings position In thousand EUR 2015 2014 Revenues Group 532,027 543,168 Change on 2014-2.1% Solutions 190,467

More information

Tower International Reports Solid Third Quarter And Raises Full Year Outlook

Tower International Reports Solid Third Quarter And Raises Full Year Outlook FOR IMMEDIATE RELEASE Tower International Reports Solid Third Quarter And Raises Full Year Outlook LIVONIA, Mich., November 3, 2011 Tower International, Inc. [NYSE: TOWR], a leading integrated global manufacturer

More information

Preliminary Consolidated Financial Statements 2015 >

Preliminary Consolidated Financial Statements 2015 > Preliminary Consolidated Financial Statements 2015 > The following results and amounts are preliminary statements that have not yet been approved or adopted by the Supervisory Board. Preliminary Consolidated

More information

CONSOLIDATED STATEMENT OF INCOME

CONSOLIDATED STATEMENT OF INCOME CONSOLIDATED STATEMENT OF INCOME 4 th quarter (a) 3 rd quarter 4 th quarter 2009 Sales 40,157 40,180 36,228 Excise taxes (4,397) (4,952) (4,933) Revenues from sales 35,760 35,228 31,295 Purchases, net

More information

Staples, Inc. Announces First Quarter 2016 Performance

Staples, Inc. Announces First Quarter 2016 Performance Media Contact: Mark Cautela 508-253-3832 Investor Contact: Chris Powers/Scott Tilghman 508-253-4632/1487 Staples, Inc. Announces First Quarter 2016 Performance FRAMINGHAM, Mass., May 18, 2016 Staples,

More information

April 28, 2015 HONDA MOTOR CO., LTD. REPORTS CONSOLIDATED FINANCIAL RESULTS FOR THE FISCAL FOURTH QUARTER AND THE FISCAL YEAR ENDED MARCH 31, 2015

April 28, 2015 HONDA MOTOR CO., LTD. REPORTS CONSOLIDATED FINANCIAL RESULTS FOR THE FISCAL FOURTH QUARTER AND THE FISCAL YEAR ENDED MARCH 31, 2015 April 28, 2015 HONDA MOTOR CO., LTD. REPORTS CONSOLIDATED FINANCIAL RESULTS FOR THE FISCAL FOURTH QUARTER AND THE FISCAL YEAR ENDED MARCH 31, 2015 Tokyo, April 28, 2015--- Honda Motor Co., Ltd. today announced

More information

Management s Discussion and Analysis

Management s Discussion and Analysis Management s Discussion and Analysis of Financial Conditions and Results of Operations For the quarter and six months ended June 30, 2012 All figures in US dollars This Interim Management s Discussion

More information

Consolidated Statement of Profit or Loss (in million Euro)

Consolidated Statement of Profit or Loss (in million Euro) Consolidated Statement of Profit or Loss (in million Euro) Q3 2014 Q3 2015 % change 9m 2014 9m 2015 % change Revenue 636 661 3.9% 1,909 1,974 3.4% Cost of sales (440) (453) 3.0% (1,324) (1,340) 1.2% Gross

More information

Net interest-bearing debt at 30 June 2015 was DKK 560 million (30 June 2014: DKK 595 million).

Net interest-bearing debt at 30 June 2015 was DKK 560 million (30 June 2014: DKK 595 million). H+H International A/S Interim financial report Company Announcement No. 327, 2015 H+H International A/S Dampfærgevej 3, 3rd Floor 2100 Copenhagen Ø Denmark Tel. +45 35 27 02 00 info@hplush.com www.hplush.com

More information

Summary of Financial Statements (J-GAAP) (Consolidated)

Summary of Financial Statements (J-GAAP) (Consolidated) Summary of Financial Statements (J-GAAP) (Consolidated) February 10, 2016 Company Name: Sodick Co., Ltd. Stock Exchange: Tokyo Stock Exchange, 1st Section Code Number: 6143 URL: http://www.sodick.co.jp

More information

DATA GROUP LTD. ANNOUNCES SECOND QUARTER FINANCIAL RESULTS FOR 2015

DATA GROUP LTD. ANNOUNCES SECOND QUARTER FINANCIAL RESULTS FOR 2015 For Immediate Release DATA GROUP LTD. ANNOUNCES SECOND QUARTER FINANCIAL RESULTS FOR 2015 SECOND QUARTER HIGHLIGHTS Second quarter 2015 ( Q2 ) Revenues of $73.4 million, a decrease of 4.3% year over year

More information

Tower International Posts Third Quarter 2010 Adjusted EBITDA of $39.1 million

Tower International Posts Third Quarter 2010 Adjusted EBITDA of $39.1 million For Immediate Release Derek Fiebig Director, Investor & External Relations (248) 675-6457 fiebig.derek@towerautomotive.com Tower International Posts Third Quarter 2010 of $39.1 million LIVONIA, Mich.,

More information

Consolidated Financial and Performance Review for the First Quarter of Fiscal Year Ending March 2007 July 28, 2006

Consolidated Financial and Performance Review for the First Quarter of Fiscal Year Ending March 2007 July 28, 2006 Consolidated Financial and Performance Review for the First Quarter of Fiscal Year Ending March 2007 July 28, 2006 Company Name: URL: Representative: Inquiries: Kenwood Corporation (Code No. 6765, Stock

More information

Letter from the Management Board 3. Key Financial Figures 4. Management Report 5. Consolidated Income Statement (IFRS) 9

Letter from the Management Board 3. Key Financial Figures 4. Management Report 5. Consolidated Income Statement (IFRS) 9 3-Months Report 2015 Content Letter from the Management Board 3 Key Financial Figures 4 Management Report 5 Consolidated Income Statement (IFRS) 9 Consolidated Statement of Comprehensive Income (IFRS)

More information

CONSOLIDATED STATEMENT OF INCOME

CONSOLIDATED STATEMENT OF INCOME CONSOLIDATED STATEMENT OF INCOME Notes Sales 1) 5,429,574 5,169,545 Cost of Goods Sold 2) 3,041,622 2,824,771 Gross Profit 2,387,952 2,344,774 Selling Expenses 3) 1,437,010 1,381,132 General and Administrative

More information

Key figures as of June 30, 2013 1st half

Key figures as of June 30, 2013 1st half Never standing still. Interim Report as of June 30, 2013 Contents 2 Key figures as of June 30, 2013 1st half 3 Key figures as of June 30, 2013 2nd quarter 6 Strong revenue growth 12 Consolidated interim

More information

Staples, Inc. Announces Second Quarter 2015 Performance

Staples, Inc. Announces Second Quarter 2015 Performance Media Contact: Kirk Saville 508-253-8530 Investor Contact: Chris Powers/Kevin Barry 508-253-4632/1487 Staples, Inc. Announces Second Quarter 2015 Performance FRAMINGHAM, Mass., August 19, 2015 Staples,

More information

Interim Report First Quarter of Fiscal 2005

Interim Report First Quarter of Fiscal 2005 s Interim Report First Quarter of Fiscal 2005 Introduction We prepare the Interim Report as an update of our Annual Report, with a focus on the current reporting period. As such, the Interim Report should

More information

Full Year Results 2014

Full Year Results 2014 Full Year Results 2014 18 March 2015 Conference call on FY Results 2014 Corporate Finance & Investor Relations AGENDA FY 2014 results presentation Highlights 2014 Financials 2014 Outlook 2015 Appendix

More information

Group sales stable on a currency-neutral basis Results significantly impacted by negative currency effects adidas Group confirms full year guidance

Group sales stable on a currency-neutral basis Results significantly impacted by negative currency effects adidas Group confirms full year guidance For immediate release Herzogenaurach, May 6, 2014 First Quarter 2014 Results: Group sales stable on a currency-neutral basis Results significantly impacted by negative currency effects adidas Group confirms

More information

Aalberts Industries Net profit and earnings per share +15%

Aalberts Industries Net profit and earnings per share +15% PRESS RELEASE 1 ST HALF YEAR 2015 Aalberts Industries Net profit and earnings per share +15% Langbroek, 13 August 2015 Highlights o Revenue EUR 1,244 million, increase +18% (organic +2%). o Operating profit

More information

Summary of Consolidated Financial Statements for the First Quarter of Fiscal Year Ending December 31, 2016 (Japanese GAAP)

Summary of Consolidated Financial Statements for the First Quarter of Fiscal Year Ending December 31, 2016 (Japanese GAAP) This document is a translation of the Japanese financial statements and is not in conformity with accounting principles of the United States. Summary of Consolidated Financial Statements for the First

More information

Logwin AG. Interim Financial Report as of 30 September 2015

Logwin AG. Interim Financial Report as of 30 September 2015 Logwin AG Interim Financial Report as of 30 September 2015 Key Figures 1 January 30 September 2015 Earnings position In thousand EUR 2015 2014 Revenues Group 805,065 842,390 Change on 2014-4.4% Solutions

More information

FP Newspapers Inc. reports fourth quarter 2014 results, long-term debt renewal and first quarter 2015 dividend

FP Newspapers Inc. reports fourth quarter 2014 results, long-term debt renewal and first quarter 2015 dividend NEWS RELEASE FP Newspapers Inc. reports fourth quarter 2014 results, long-term debt renewal and first quarter 2015 dividend Winnipeg, March 11, 2015 FP Newspapers Inc. ( FPI ) announces financial results

More information

Europe: Growth of +7.8% in Recurring Operating Income France: New half of improved profitability

Europe: Growth of +7.8% in Recurring Operating Income France: New half of improved profitability 2014 FIRST HALF RESULTS: CONTINUED GROWTH Organic sales growth of 4.3% Increase in Recurring Operating Income of +13.8% Strong increase in adjusted net income, Group share of +16.7% Strong profit growth

More information

CONSOLIDATED INTERIM FINANCIAL STATEMENTS

CONSOLIDATED INTERIM FINANCIAL STATEMENTS CONSOLIDATED INTERIM FINANCIAL STATEMENTS AND GROUP INTERIM MANAGEMENT REPORT SECOND QUARTER OF 2008 JUNE 30, 2008 FRANCONOFURT AG FRANKFURT AM MAIN FRANCONOFURT AG, FRANKFURT AM MAIN CONSOLIDATED INTERIM

More information